DCM bankers ready deals with one eye on geopolitics

International G3 currency bond issuance in Asia is set to surpass 2018’s numbers before the end of the year, as relatively stable market conditions provide borrowers with fundraising opportunities. But DCM bankers warn that things could turn in the blink of an eye, as geopolitical tensions threaten to disrupt their fourth quarter business. Morgan Davis reports.

  • By Morgan Davis
  • 03 Oct 2019
While bond sales in the region have been strong recently, debt investors and issuers are still tiptoeing cautiously around geopolitical headlines and voicing fears that volatility could spike at a moment’s notice. Everything from the US-China trade war to Brexit and problems around Iran have people wondering when ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 27.09
2 Industrial and Commercial Bank of China (ICBC) 12.86
3 China Merchants Bank Co 11.85
4 China Merchants Securities Co 9.09
5 Agricultural Bank of China (ABC) 5.51

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 15.74 76 7.80%
2 Goldman Sachs 14.46 60 7.17%
3 China International Capital Corp Ltd 14.21 72 7.04%
4 UBS 12.70 89 6.30%
5 Morgan Stanley 11.11 66 5.51%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $b No of issues Share %
  • Last updated
  • Today
1 HSBC 32.35 286 8.26%
2 Citi 25.59 178 6.53%
3 JPMorgan 18.14 134 4.63%
4 Standard Chartered Bank 18.08 182 4.61%
5 Bank of America Merrill Lynch 15.02 111 3.83%

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